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/biz/ - Business & Finance

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56250688 No.56250688 [Reply] [Original]

>be me
>broke student in low income country
>do freelancing online and get paid by US normies
>i make the same amount per hour as I would at a minimum wage in my country per day
>what's the chance of being caught not paying taxes?

For context i"m from eastern europe, inside the EU, and I make about $800 per month. Is that low enough to fly under the radar and not get caught? This is the first time I am making some money and it's so good not having to eat the cheapest food in the store for once and afford a respectable diet with meat in it. My parents are poor and I get 0 financial support from them.

>> No.56250706

Look into the income tax laws for your country, but no that's almost certainly not low enough if it's comparable to minimum wage.

>> No.56250714

>>56250688
Depends which country.
What you described is either Romania or Bulgaria.
If that's the case, they're incompetent (sometimes to your detriment, been there myself), but the freelancing site might be snitching you off.

>> No.56250736
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56250736

>>56250688
blame Russia

>> No.56250741

>>56250688
I doubt you'll get audited for a minimum wage income source. I'd still look at the prison culture in your armpit of a country and do a judgement call largely based on that.

>> No.56250751

>>56250714
you're correct. I work on upwork, idk how they go about the subject. would it help if I withdrew the money on like a PayPal?

>> No.56250773

>>56250741
>>56250706
it's about twice the minimum wage, but as I said, it's $800, so it's really not a ton of money

>> No.56250774

>>56250751
Eh, if every bit matters right now I say fuck it. Worst case scenario it'll catch up with you and you'll have to pay up, but you'll hopefully be in a better financial situation then.

>> No.56250780

>>56250751
Paypal is decent. Look into gift cards, some grocery stores sell them online.

>> No.56250791

>>56250774
that's what I'm most worried about. like i'm fine with being caught and having to pay the amount I owe, but not with being caught and going straight to jail

>> No.56250800

>>56250688
If you’re in Romania, I very much understand your situation, but I would still try to pay the tax man.
I have a friend that made well over 6 figs from trading in Romania and he got fined by ANAF around 5 figures for not paying taxes.
Since then he’s dumping his money on Revolut because he has a very old account in which he didn’t out his CNP.
General rule of thumb, if they know your CNP, they can snitch on you.
Also, since 1st of January, ANAF can check anyone’s bank account without their permission.

>> No.56250812
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56250812

>>56250751
I mean if I had to gamble, I'd say 97% chance nothing happens to you.
But taxes in Bulgaria are like 7.5% for freelancers this year (10% from the next one if a law currently in discussion gets passed). In Romania I think you have a 10k/month tax free for "online profits" not sure if that's still around.
So you do your own risk-benefit analysis.
Also I don't think there's jail time for that, worst case you pay interest on top.

>> No.56250850

>>56250688
I’ve freelanced in the past and paid 0.
File taxes but file all your personal expenses as business expenses since you’re self employed and effectively pay 0